South Korean automaker Kia Motors plans to increase vehicle production in the CIS region through its facilities in Uzbekistan and Kazakhstan, the company said. The announcement came from Jung Sung Kook, Kia’s executive director responsible for investor relations.
Chung noted that in the Asia-Pacific region, the focus is on reducing costs through production hubs in Malaysia and Indonesia. This year, Kia expects sales growth of 12.6% across the Asia-Pacific and 23.5% in the CIS, while forecasting a 3.5 trln won ($2.45 bn) drop in operating profit due to U.S. car tariffs.
Kia began assembling vehicles in Uzbekistan in...